"GREAT OFFSHORE" Strong Q2 results

Strong Q2 results fuel rally in Great Offshore

Great Offshore rose 9.59% to Rs 880 at 15:30 IST on BSE on posting 46.6% rise in net profit to Rs 55.04 crore in Q3 December 2007 over Q3 December 2006.

The company announced the results after market hours on Monday, 28 January 2008.

Meanwhile, BSE Sensex was down 64.76 points or 0.37% to 18,088.02 after Reserve Bank of India announced no change in lending rates in its quarterly monetary policy review today.

On BSE, 63,684 shares were traded in the counter. The stock had an average daily volume of 79,305 shares in the past one quarter.

The stock hit a high of Rs 884.80 and a low of Rs 812 so far during the day. The stock had hit a 52 week high of Rs 1,149.95 on 8 January 2008 and a 52 week low of Rs 501.55 on 14 March 2007.

The mid-cap scrip had underperformed the market over the past one month till 28 January 2008, declining 13.81% as compared to the Sensex’s fall of 10.17%. It however outperformed the market in the past one quarter, rising 3.41% as compared to the Sensex’s fall of 8.24%.

The company’s current equity is Rs 38.12 crore. Face value per share is Rs 10.

The current market price of Rs 880 discounts its Q2 September 2007 annualised EPS of Rs 57.75 by a PE multiple of 15.23.

Great Offshore’s sales rose 30.8% to Rs 193.99 crore in Q3 December 2007 over Q3 December 2006.

Great Offshore is an integrated offshore oilfield services provider, offering a broad spectrum of services to upstream oil and gas producers